AF TV - Evergrande boss forced to ditch the jet set

Evergrande debt troubles rattled markets and left many of its investors, creditors and suppliers in financial chaos. Now, under pressure from Chinese authorities, Evergrande chief Hui Ka Yan, 63, is using some of his personal wealth to help pay bondholders.

But even as he moves to sell some of his personal assets, the proceeds raised pale in comparison to Evergrande’s liabilities of more than $300 billion, equivalent roughly to the gross domestic product of South Africa.

After Evergrande last week again averted a destabilising default with a last-minute bond payment, its next deadline is December 28, when coupon payments totalling more than $255 million are due.

S&P Says Evergrande Default ‘Highly Likely’ as $3.5bn Debt Looms

Ankur Tanwar

After graduating as a Computer Science student and having worked as Data Analyst for two years, Ankur made the switch to the film and entertainment industry. With an affinity for understanding and managing software, Ankur found a talent for video editing and has worked for Asia Financial since launch, as a Video Editor and Producer. Ankur is in charge of the AF TV production unit based in Delhi.